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I Bonds

This article describes how to enter a variety of bonds in your Plan.

Nancy Gates avatar
Written by Nancy Gates
Updated over a week ago

For I Bond interest we recommend that you rely on the Rate of Return. When you do this the Planner will model interest on a yearly basis that is taxable.

If you want more granularity, we generally recommend the following:

First, set up the I Bond account

STEP 1: Head over to MyPlan > Accounts and Assets

STEP 2: ➕ Add the account as a Checking/Savings/Investment account

STEP 3: Give the account a descriptive name, "I Bonds" for example

STEP 4: Select Ordinary Income as your tax treatment

STEP 5: Set your rates of return to 0%

STEP 6: Exclude the account from your withdrawal strategy

Next bring the interest income in as a lump sum pension

STEP 7: Head over to MyPlan > Income > Pensions. Press "Add a Pension" and select the pension recipient.

STEP 8: When asked “what type of pension is this?” select Lump Sum

STEP 9: Enter a descriptive name for the income, eg: "I Bond Interest”

STEP 10: Enter the value of the lump sum pension should be the future value of the interest you expect to receive at the bond's maturity date

STEP 11: Select the maturity date as the payment age

STEP 12: Select the "I Bond" account as the deposit account

STEP 13: Select “Federal Only” when asked if the income is taxable

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